Quilter and Cheviot AM in 'exclusive' merger talks

Quilter & Co and Cheviot Asset Management are in talks to combine their businesses via a private-equity facilitated merger.

An announcement regarding the prospective merger is scheduled for early next month, according to Sky News. The deal is being facilitated by Bridgepoint, the private equity group which bought Quilter from Morgan Stanley earlier this year for around £180m. Confirming the talks, Martin Baines, CEO of Quilter said: "When Bridgepoint invested in Quilter earlier this year, we stated that an active search for complementary acquisitions would follow. "We are currently in exclusive discussions with Cheviot Asset Management and expect to be able to provide more information in due course. We'...